On Monday, stocks of companies sourcing goods from China surged following the announcement of a U.S.-China tariff deal that reduced tariffs significantly. The U.S. Trade Representative stated that the U.S. reduced its tariffs from 145% to 30%, while China reciprocated by lowering its tariffs on U.S. goods. Despite ongoing negotiations, the news sparked widespread optimism across Wall Street and alleviated concerns for retailers who feared rising costs. Major apparel and retail companies saw notable stock increases as consumer pricing fears subsided, reflecting a potential positive shift in the market.
Many companies sourcing goods from China saw surging stocks as the U.S. and China reached a deal to reduce tariffs, easing trade tensions.
The U.S. agreed to decrease its 145% tariff rate on Chinese goods significantly, promoting optimism in many sectors heavily reliant on imports from Asia.
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